The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-10
CONDITION OF TIE MARKETS.
Partial Subsistence of the Intense Excite
ment Prevailing in Wheat.
Day of Frequent Fluctuations, the Market
Finally Closing Feverish and Unsettled
Corn Also Shares in the Advance.
MONEY, BONDS AND STOCKS.

Shares Affected by the Big Railway Deal
Generally Show Weakness.
NEW YORK, March 9.-Money on call was
sasy at 81 Al per cent, the last loan being made
1T 81, closing offered at percent.
Prime mercantile paper, sac per cent.
Sterling exchange was dull but steady at
~ s4} for sixty-day bills and 81 81 for demand.
The total sales of stocks to-day were $685. 789
shares including the following: Delaware, Lack
awanna Il Western, 100; Erie, 2O,99O Lake
Shore, $685. Louisville & Nashville, 5,005;
Northwestern, 10000; New Jersey Central,
1866; Reading, 72,s78; ST. Paul, 31,2S4; ST.
Paul & Omaha, 1874; Western Union, 9362O
The immediate effect of the announcement of
the new railroad deal upon stocks was to ad-
vance them at the opening, but the high figures
brought out heavy realizations, and the improve
ment lasted but short time The temper of
the boom was largely bullish, but the pressure
to sell was too strong and the traders soon
changed over and aided the general sagging Of
prices.
The stocks interested In the deal were the
leaders of the market. but all Of them displayed
more weakness than the general list. Western
Union was first in Importance. The quarterly
Issue of stocks for the scrip
issued some time ago was looked
upon with dsfavor and the stock declined
about per cent. Richmond & West Point
sympathiZed closely with the movements in
Western Union. the rumored new issue of bonds
to pay for the b. IL .. stock telling against its
prices. The dealings in it, however, were much
smaller than those in Western Union Reading
and Jersey Central were also weak, the latter
especially Outside of the stocks above men
toned the movements were slight and unimpor-
tant. though St Paul and Erie were active, and
Omaha and New England. during a portion of
the afternoon, were conspicuously strong. In
the unlisted department Phoenix mining stocks
became feature by reason of its activity,
which is accounted for by the settlement of
litigation and by purchases by foreign houses on
ARRANGEMENTS for listing the stock on the Lon
don Exchange The opening this morning was
decidedly strong, with advances over last even
ine's final figures ranging from to I per cent,
the latter in Western Union. The stocks con-
cerned in the b. & o. deal only were
active. the remainder being quiet or dull
The advances of the opening were not
maintained, and the entire list soon
showed a sagging tendency. After tine first hour
speriod of comparative dizziness and steadiness
was had, but the market soon gave way again.
The sagging continued throughout the afternoon
until near NJ, when Western Union and
Richmond g. West Point displayed decided
weakness, and the downward movement was ac-
CELEBRATED. the close being weak at about the
lowest figure reached. The attack upon the
charter Of the Morris 81 Essex in the New Jer
sey Legislature caused special weakness in that
stock, and it shows the greatest decline Of the
day. Green Bay was comparatively active and
weak. The entire active list with the exception
of Erie, Omaha and Texas & Pacific each oil
which advanced small fractions, is lower thi.
evening. Jersey Central is off L. Richmond &
West Point. II; Western Union, II; Lackawap
na /; Morris q Essex. Al per cent.
Railroad bonds were duh to-day, the sales az
gregating 81, cog, 900. Prices generally
heavy. and fluctuations were narrow and unim
portant Final prices generally show fractiona
declines.
Government bonds were dull and steady.
State bonds were dull and steady. Closin,
quotations were: